Those following the Pound to Euro rate for some time will be aware that the current levels are towards the top end of the trend going back as far as the summer of last year.
Although when the news of the transitional deal broke we saw GBP/EUR spike as high as the 1.15 mark, it soon came back down but it has managed to hold onto some of these gains and remain comfortably trading in the 1.14’s.
The renewed bullishness and positive sentiment surrounding the UK economy is of course the reason for GBP strength, but the GBP/EUR pair have been helped by a weaker Euro in opinion which has helped the pair remain trading in the 1.14’s.
Last week there was a weak data release out of Germany, which is the engine room of the EU so it’s economic performance is monitored closely. It’s emerged than inflation levels in Germany have tailed off which is why many are expecting to see the Eurozone figure for inflation disappoint, and this has been limited gains in the Euros value in my opinion.
The data comes out tomorrow morning so if you wish to plan around its release do feel free to get in touch. At the same time there are a number of other issues that could impact the rate so do feel free to get in touch if you wish to discuss any of these in further detail.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.